Otis Worldwide Authorizes $2B Share Buyback Program

Dow Jones

Jan 17, 2025

By Stephen Nakrosis

Otis Worldwide's board approved a $2 billion share repurchase program to buy back the company's common stock.

The company said Thursday it cancelled about $100 million remaining from a prior program, which had been approved in December 2022.

The elevator and escalator designer and manufacturer has a market cap of $36.85 billion, with 399.46 million shares outstanding and a public float of 399.02 million shares.

In after-hours trading the stock rose 1.8% to $94.89, and ended the market session up 1% at $93.20.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 16, 2025 16:46 ET (21:46 GMT)

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